Press cycle 16 - Budget #2

For every £1 spent on early interventions, it's estimated that £15 is saved down the line. If you invest hundreds of millions as Labour have done, this is a net saving of billions.

Anti-growth Dylan Macmillan and the Conservatives' narrow view of cutting the deficit may make for good headlines, it may make their balance sheets look favourable today - but it brings not just human consequences down the line, but higher costs for and a smaller economy. Only Labour looks at how we can handle our public finances in a long term way.

"[we] would rather die than leave the Labour Party." - Emily Thornberry.

For too long our public sector workers have been held back by the Tories' cruel and needless pay cap. This has been particularly damaging for our NHS, damaging morale and retention: our doctors, nurses and carers didn't crash the economy, but have been told to take the brunt of the damage as those who did get huge bonuses. The government has made it clear that's going to end. That means investing a real terms pay rise for our NHS staff and for all of the public servants we owe so much to. It's the least they deserve.

"[we] would rather die than leave the Labour Party." - Emily Thornberry.

The Tories have told us that we're all in this together, but only this budget carries that spirit. We've ensured the tax burden for the vast majority of Britons - for our working and middle class - is lifted while investing in vital public services. We know that these people are in the best position to invest in the real economy, small businesses and local communities, stimulating real growth.

Dylan Macmillan may be in the press deriding economic growth, but Labour have made it clear that we will ensure the economy grows and that the benefits of growth will be spread equally so we all have a stake. This, not senseless cutting, puts us in a stronger position to handle the nation's finances in five, ten, twenty years' time.

"[we] would rather die than leave the Labour Party." - Emily Thornberry.

The Conservatives made some claims about the budget in Parliament that shows they simply didn't read the thing. There are billions invested in green stimulus, hundreds of millions invested in our rural communities, substantial sums put into flood protection and research. These are all steps that we need to take to ensure our economy prospers and thrives in the rapidly changing and highly tumultuous global marketplaces. It also helps prepare us for the environmental, social and economic challenges we will face. Conservative plans fall far short in comparison.

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This budget is one that both parties worked on together, and though we can't deny there were issues with the rollout, the fact is is that this is a budget that puts both Britain as a whole and individual opportunities and life prospects on a far more stable footing. I am especially proud of the contribution Liberal Democrats - and our ideas on fairness, bringing down unsustainable deficit spending, promoting environmental policy, stopping tax evasion, and investing in our future - have had in this debate. We have already secured or made substantial progress on around sixty of our manifesto pledges.

Well done Government. You didn't drop the ball on your second Budget in a generally subdued debate by what I assume are a bunch of people talking about the economy. You made some decent points, particularly the new Lib Dem leader.

Tories - I know you were probably bored of the Budget, and fair enough, but a bit more presence on some of the points Labour and the LDs were touting would have helped. On a number of areas, the story isn't quite as good as they were saying.

What you did do well, and I noted it at the start, was to reinforce yourself as being trusted on the economy. The government's increase in the deficit is a weak spot, and will probably continue to be challenging for them. So while it may not pay off immediately right now in the same way as the Government touting the Budget goodies relatively unchallenged, you have emerged from all the Budget press cycles having built your image as responsible and credible on the economy. That is an important step back to government: the question is what you do with it.